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Archive: 17 September 2009

Posts in 17 September 2009

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 3036 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

E-COMMUNICATION – A Serious Thing

September 17, 2009 330 Views 0 comment Print

CS. Monika Bhardwaj, B.Com (Hons.), ACS, LL.B (I), Gurgaon This article aims to highlight that communications done through electronic mode are now recognized by Indian Law and hold true as an ‘evidence’ as well as ‘contractual liability’. Internet and electronic communications has now become an integral part of our day to day life, from SMS […]

ICWAI council approved CAS 7 & CAS 8

September 17, 2009 786 Views 0 comment Print

Central Council of the ICWAI has approved on 12th September 2009 the Cost Accounting Standards on Employee Cost (CAS-7) and Cost of Utilities (CAS-8). The same have been hosted on the website of the ICWAI.

RBI Press Release on Restrictive practices while accepting bank notes

September 17, 2009 288 Views 0 comment Print

September 14, 2009 Restrictive practices while accepting bank notes It has come to the notice of the Reserve Bank of India that certain establishments are adopting restrictive practices such as not accepting notes of certain denominations or series etc. Reserve Bank of India, therefore considers it necessary to emphasise that all government/ semi-government offices, public/ […]

Government would come up with a roadmap to help companies to adopt IFRS

September 17, 2009 250 Views 0 comment Print

The government today said it would come up with a roadmap in November to help companies to adopt International Financial Reporting Standards (IFRS) which will become operational from 2011. The government will take the concerned regulatory agencies like SEBI and others on board before finalising the roadmap, Corporate Affairs Minister Salman Khurshid told reporters on the […]

KPMG accountant jailed

September 17, 2009 259 Views 0 comment Print

A “spineless” director at leading accountancy firm, KPMG, was jailed for four years after trying to buy his second wife’s happiness with £550,000 stolen from his employer.  Andrew Wetherall, 49, branded as “spineless” by the judge, spent years defrauding the expenses system at the financial and professional services firm to provide her with expensive gifts and […]

Income Tax raided NCP leader having stake in Sunil Hitech

September 17, 2009 1045 Views 0 comment Print

The Income Tax Department today conducted raids at various places, including the residence of NCP leader Sudamati Gutte whose family has a large industrial base. According to sources, raids were carried out at more than 35 places in the district, the details of which are yet to be known.

Acquirer has a right to protect his investment/business from competition by a seller of the business

September 17, 2009 378 Views 0 comment Print

In a blow to the Securities and Exchange Board of India (Sebi), the Securities Appellate Tribunal (SAT) has set aside the former’s ruling in the case of Tata Tea, wherein Sebi had asked the company to pay non-compete fees to all shareholders of Mount Everest Mineral Water.Tata Tea had acquired Mount Everest in 2007, buying […]

New Companies Bill 2009 likely to provide more power to SFIO

September 17, 2009 648 Views 0 comment Print

The New Companies Bill 2009, which seeks to replace the existing Companies Act of 1956, has already factored in the lessons from the Satyam incident and would look at strengthening the role of Serious Fraud Investigation Office (SFIO) in order to arm it with legal and statutory powers to probe corporate misdoings, according to Mr […]

Dual Listing meaning, problem & reasons for the same

September 17, 2009 1621 Views 0 comment Print

I recently heard that MTN will ask for Dual listing if Merger or takeover deal between Bharti and MTN happens. I wondered what this is all about as we haven’t witnessed such listing in India in past and neither I found  any provisions of dual listing in our country’s law although government official some times […]

RBI approval required for acquisition/ transfer of control of NBFCs accepting deposits

September 17, 2009 1451 Views 0 comment Print

The Reserve Bank of India may, if it considers necessary for avoiding any hardship or for any other just and sufficient reason, exempt any NBFC or class of NBFCs, from all or any of the provisions of these Directions either generally or for any specified period, subject to such conditions as the Reserve Bank of India may impose.

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